The central bank draws the attention of the world ..warn of its impact on the financial reputation of Iraq

Sensitivity of the crisis, the central bank draws the attention of the world .. MPs warn of its impact on the international financial reputation of Iraq

Date: 11/02/2012 08:40:16 Friday

Baghdad (news) / report / Hussein Faleh / .. Has rendered Iraq’s international at stake as a result of the outcome of the case the central bank sacked governor and referral number of directors to eliminate charges of financial corruption.
warned Congress in conversations (of the Agency news) the possibility of vibration reputation of Iraq international financial, calling for preserving the independence of the central bank and non-interference from government authorities work, because monetary policy in Iraq sober and achieved great successes in the past. “must deal with the issue of the Central by the committees formed to monitor the work cautiously so as not desecrate the reputation of Iraq international,” said MP / coalition in Iraq / Qais Cdhir, noting that longer major financial institution reflects the credibility and transparency of the financial system in the country before the international banks and international financial institutions. added Cdhir (of the Agency news): that the financial institution depends on the degree of credibility of the body that deals with, in the case of a lack of confidence in those who hold to manage the Central Bank, it will reflect badly on the financial system in the country, will affect foreign dealings with international banks. warned: that the continuation of the crisis the central current and exchange of accusations between his administration, perhaps will lead to delay action central bank auction and therefore will affect the dinar exchange rate against hard currencies, calling for an end to the crisis as soon as possible to maintain the fiscal policy in the country. while confirmed former Rep., Abdulhadi al-Hassani (of the Agency news) of the futility of dealing with the issue of the central bank in a way charges for certain people, but should be There media blackout and did not place them to the media and the government ensures resolve his case peacefully even if there are financial losses, in order to preserve the reputation of the monetary policy in the country. noted Hassani: avoiding most Western countries for any defect in the work of their banks Central and quickly without knowing the others, because the bank Central is a financial institution aiming to stabilize the exchange rate of the national currency against foreign currencies. The decision of the Economic Commission MP / coalition of Kurdish blocs / Mahma Khalil, praised the performance of the central bank, explaining that he has cash management good experienced significant financial. said (of the Agency news): I do not exclude certain people at the central bank, regardless of fluctuating exchange rate of the dinar against the dollar and breaches auction sale of hard currency. said: likely to affect the issue of central bank the current financial situation in the country in terms of instability dinar exchange rate and prejudice reputation Iraq’s international monetary policy, so you should deal with the issue professionally and efficiently away from the emotions, “because it is a sensitive issue and would hurt the balance sovereign country” and adult (70) billion dollars. member of the Integrity Committee MP / Kurdistan Alliance / Sherif Soliman, he went to the the federal government is trying to acquire the central bank and lay hands on it. Sulaiman said earlier (of the Agency news): everyone afraid of the proceedings of this issue, which has become “politicized” and was trying to Atghae formula professional, monitor, calling for the central bank is far from Mhalaot acquisitions as an independent body linked to the House of Representatives only. while confirmed media adviser to Prime Minister Ali al-Moussawi, said the Cabinet decided to dismiss Central Bank Governor Sinan al-Shabibi after an investigation by a parliamentary committee in accusations of corruption in the bank. Moussawi said: The Council of Ministers tasked Abdul Basit Turkish Prime BSA to manage the Central Bank until further notice. and was a member of the investigative about the work of the Central Bank of Haitham al-Jubouri said, in (14 October 2012), the issuance of arrest warrants and travel ban against Central Bank Governor Sinan al-Shabibi and officials at the bank, and is regarded as the stay conservative abroad will prove corruption charges. has asked the Finance Committee in the Iraqi Council of Representatives, on Monday (15 October 2012), indictees central bank governor providing evidence, while some expressed fear that the accusations were “targeted politically” for the bank. Central Bank announced In January 2012, the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, in addition to higher sales of hard currency back to finance trade neighboring countries by Iraqi traders, noting that sales of hard currency during the beginning of this year amounted to twice what was sold in 2011. and committed the CBI in February 2012 All Iraqi banks participating in the auction the bank to buy and sell foreign currency must disclose its customers as a condition of access to foreign currency. was the law against money laundering Iraqi in 2004, put control procedures due to institutions particularly banking them. also provides lists of the Security Council Committee No. 1267 of the law against money laundering which stipulates the Iraqi Central Bank left and providing financial institutions a list of individuals and institutions that have on financial institutions to report to the body concerned for the Iraqi government for its dealings when they are discovered. mentioned that Central Bank hold daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, excluding public holidays, which depends where all these auctions, and be sales either in cash, or in the form of remittances sold abroad for a commission certain. / end / 8. d. Q /

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